MTN Nigeria became the most valuable firm on the Nigerian stock market on Tuesday, reaching a market capitalisation of ₦9.48trn ($6.18bn), overtaking Airtel Africa.
Corporate Finance
Top stories
The telco gaint, which operates across 16 African markets and serves over 298 million customers, said Nigeria’s revenue rose by 54.1% to $1.54bn on a constant currency basis, while Ghana advanced 39.9% to $1.13bn.
Two days after acquiring CHI Limited, UAC of Nigeria’s share price has surged, making it the 36th most valuable company on the NGX—despite a profit dip in H1 2025.
MTN Nigeria Communications has emerged as the second listed company to hit the ₦10 trillion market capitalisation as its share price rose by 2% on Friday.
Mr Bigg’s and Debonairs reported a seventh straight half-year loss in H1 2025 as competition stiffened amid a cost-of-living crisis that has crimped consumer spending.
The telco giant’s performance, its highest half-year profit in at least eight years, comes just a day after it became the most valuable company on the Nigerian stock market, with its market value crossing the ₦9 trillion mark and surpassing Airtel Africa.
MTN Nigeria Communications Plc on Tuesday became the most valuable company on the Nigerian stock market, after its market capitalisation crossed the ₦9 trillion mark for the first time, overtaking Airtel Africa.
Airtel Africa, Nigeria’s second-largest telecom operator, recorded a 22.4% year-on-year revenue increase to $1.42 billion for the quarter ended June 30, 2025, up from $1.16 billion in the same period last year.
The signing comes a day after Kenyans returned to the streets to commemorate victims of last year’s nationwide protests, which were sparked by the highly controversial tax reforms proposed in the Finance Act 2024.
Q1 2025 marks a turnaround for Nigeria’s corporate giants, with many returning to profit as FX losses ease and business strategies adapt to a tougher economy.
While foreign exchange gains drove the rebound, the CBN’s earnings report also revealed a sharp drop in net interest income and surging liabilities, pointing to ongoing financial pressures.
Revolut plans to enter South Africa, but regulatory, tax, and labour hurdles could complicate its digital banking expansion.
New withholding tax rules will make companies handle tax deductions differently, impacting compliance and business operations.
TMRAS introduced by Nigeria’s OAGF has left Nigerians confused on the position of Remita. This article answers questions about the revenue system.
How Nigeria’s new revenue collection system, TMRAS, will impact businesses, government revenue, and tax compliance.
South Africa’s minibus taxi industry dominates public transport but pays little tax. Here’s why enforcing compliance remains a challenge.
The latest move aligns with the lender’s broader plan to deepen its foothold in Kenya’s digital banking space.
Nigeria partners with Flutterwave to digitise tax payments, aiming to improve compliance and efficiency while raising concerns about regulatory oversight.
The contraction of the lender’s balance sheet also led to a notable drop in customer deposits and credit to customers by $300 million and $900 million, respectively.